Bright trading and any thoughts
- Thread starter tango29
- Start date
Jones247, the Brights do allow long-term positions in pairs, and spend quite a bit of time in their training programs going over this strategy. I think you will find that if your overnight positions are generally market-neutral, you can carry a fairly large $$ value relative to your account size at a low cost.
Someone else was mentioning high vs low volume trading. The Brights would probably be the first to tell you that if your volume is too low, then you might be better off trading retail, as the monthly fees, not to mention annual exchange fee, etc. will be difficult to justify.
Of course, while you are trying to learn and become profitable, it is better to trade small and figure the desk fee, etc. as part of your tuition. There will be time to do big volume once you are consistently profitable.
Someone else was mentioning high vs low volume trading. The Brights would probably be the first to tell you that if your volume is too low, then you might be better off trading retail, as the monthly fees, not to mention annual exchange fee, etc. will be difficult to justify.
Of course, while you are trying to learn and become profitable, it is better to trade small and figure the desk fee, etc. as part of your tuition. There will be time to do big volume once you are consistently profitable.
and there in lies the rub...
getting to that level, well, its easier said, you'd better bring your own strategies and methods, as well as technical charts and software because, contrary to common teaching, you should not discard all that knowledge and just start cold,
you should add in whilest you transition over and then gradualy exchange the new techniques learned for the prior techniques....
as regards desk fees, consider remote affiliation, to keep your costs to a bare minimum and invest in your own robust Intel Duo Core desktop with capability to expand upwards of four monitors, even if you just start with two or three...
just a few words to the wise....
What would happen at a prop firm like Bright if traders bought & held BSC Friday night into Monday? Would everyone's money in their account be liable for any huge unexpected losses by other traders?
I bought some BSC last week and held over til today, the only account that suffered that loss was my own capital account. I think you'll find that most traders do a pretty good job of managing their own risk. In the event that they don't, Bright keeps pretty close tabs on their traders and monitor for problems in real time throughout the day.
As far as trading firms are concerned, Bright is one of the best.
Thank you one and all for the comments. I'm in a state of shock at the civility of the comments! I had to double check it wasn't a spoofed URL. If anyone has a recent experience with their 3 day or 2-4 week training programs I'd love to hear about that also. Again pm if you prefer.
Thanks again!
Thanks again!
OK, regarding pairs overnight. We start to slow you down at about 30 to one.
Regarding webinars, we are doing more, and we have online mentoring as well for "speciality" groups. We like the idea of having the initial training here in Las Vegas....gives everyone a chance to meet one another, adds to the "true partnership" relationship, which I think is very valuable.
Regarding license, sorry, that's just the way it is at this point.
Regarding Goldman "going under" - well, I would rather be with them than anyone else on the Street.
OK, Fed day, let's all make some money.
And, thanks to everyone for the nice comments!
Don
Regarding webinars, we are doing more, and we have online mentoring as well for "speciality" groups. We like the idea of having the initial training here in Las Vegas....gives everyone a chance to meet one another, adds to the "true partnership" relationship, which I think is very valuable.
Regarding license, sorry, that's just the way it is at this point.
Regarding Goldman "going under" - well, I would rather be with them than anyone else on the Street.
OK, Fed day, let's all make some money.
And, thanks to everyone for the nice comments!
Don
just a little side note. bear knew they were done for a long time. thats why they handed out billions in executive bonuses in January. if they had declared bankruptcy they would have lost those bonuses... thats why the fed and jpm devised the fake bailout and the $2 price. see... everyones a winner... well.. except the stock owners and the tax payers.
but hey... the bear guys keep their new maseratis! may i suggest a class action?
don't look to the SEC for any help though.. they are quite busy harrassing(based on flawed legal interpretations) sub LLC's that are enticing traders to do what... omg gasp.. to trade! Tuco vs Bear... thats a no brainer.
Jim Rogers on the Bear(and fed) Fiasco
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